BY WANDILE TSHUMA
The government has greenlit a major public-private partnership (PPP) to develop critical bulk infrastructure within the Masuwe Special Economic Zone (MSEZ), a move aimed at transforming Victoria Falls into a premier international hub for finance and tourism.
The project, approved during the Tuesday cabinet meeting, establishes a commercial joint venture (CJV) between the state-owned Mosi Oa Tunya Development Company (MTDC) and the JR Goddard (JRG) Consortium.
According to the government briefing, the MSEZ is a “flagship national development project” established to “transform Victoria Falls into a diversified, high-value hub integrating tourism, financial services and sustainable real estate”.
Under the terms of the agreement, the JRG Consortium—which includes JR Goddard Pvt Ltd, Sesani Pvt Ltd, Stewart Scott Zimbabwe Pvt Ltd, and GGF Africa Pvt Ltd—will provide funding of US25.6 million.
This arrangement results in a shareholding structure of 39% for MTDC and 61% for the JR Goddard Consortium.
The infrastructure roadmap for the 1 200-hectare site is extensive. Planned works include the surfacing of 8 km of internal roads, the upgrading of 9 km of existing gravel roads, and the construction of a 13 km water pipeline designed to serve both the economic zone and neighbouring communities.
Additional developments will feature a package water treatment plant, a sewerage reticulation system, a power sub-station, and effluent re-use storage ponds.
Cabinet said the project was subjected to a “rigorous evaluation” in compliance with the Zimbabwe Investment and Development Agency (ZIDA) Act.
Officials believe the partnership will “catalyse high-value investment” and provide a “sustainable fiscal contribution to gross domestic product (GDP)” while creating downstream jobs.
The government said the project is expected to “catapult the transformation of Victoria Falls into a modern and vibrant economic development city, fulfilling the attainment of Vision 2030”.
The joint venture includes a 25-year structured profit recoup period and will be overseen by a board chaired by the MTDC to ensure alignment with the country’s National Development Strategy 2.
Located within the Kavango-Zambezi Transfrontier Conservation Area (KAZA-TfCA), the Masuwedevelopment is seen as a strategic pivot for Zimbabwe to diversify its tourism-dependent economy into a more robust financial services and real estate centre.
